Report: Jarome Iginla signs with Avalanche

The Bruins have lost right wing Jarome Iginla to free agency, as TSN reported Tuesday afternoon that the 37-year-old has signed with the Avalanche.

According to Bob McKenzie, the deal is worth $16 million over three years. Iginla, who led the Bruins with 30 goals in the regular season and five in the postseason last year, wanted to return to the Bruins, but their lack of cap space made it difficult for the sides to come to term on an agreement.

Iginla made $6 million playing for the Bruins last year, earning a $1.8 million salary and $4.2 million in bonuses. Those bonuses will go against the team’s salary cap in the upcoming year, which was a large part of the reason as to why the Bruins didn’t have space to sign him.

With Iginla gone and the Bruins still with very limited cap space (less than $5.7 million to fill out their roster, including signing restricted free agents Torey Krug and Reilly Smith) Loui Eriksson would appear the best bet to replace Iginla on Boston’s first line.